3) Per unit price or other underlying value of transaction computed pursuant to Exchange
Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was
determined):

4) Proposed maximum aggregate value of transaction:

5) Total fee paid:

o Fee paid previously with preliminary materials.

o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11 (a)(2)
and identify the filing for which the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule and the date of its filing.

1) Amount Previously Paid:

2) Form, Schedule or Registration Statement No.:

3) Filing Party:

4) Date Filed:

FOR IMMEDIATE RELEASE

STATEMENT OF CABLEVISION PRESIDENT AND CEO JAMES L. DOLAN REGARDING THE DOLAN FAMILY OFFER

Bethpage, N.Y., October 16, 2007  Cablevision Systems Corporation (NYSE: CVC) today
announced that Cablevision President and CEO James L. Dolan, on behalf of the Dolan Family Group
(DFG), has informed the company that the DFG has no intention of modifying its accepted offer to
acquire all outstanding shares of Cablevision that the DFG does not already own for $36.26 per
share in cash.

Statement from Cablevision President and CEO James L. Dolan:

On behalf of my parents, brothers and sisters, I want to state emphatically that there will
be no modification of the familys accepted offer to acquire Cablevision. We are looking
forward to next weeks vote and hope that the transaction is approved, but Id underscore
that I am completely prepared to continue to lead the company into the future as a public
company if the transaction is not approved.

Shareholders of record at the close of business on October 4, 2007 will be entitled to vote at the
special meeting of shareholders on October 24, 2007, which will be held at 11:00 a.m. ET at
Cablevisions headquarters at 1111 Stewart Avenue, Bethpage, NY.

Cablevision Systems Corporation is one of the nations leading entertainment and
telecommunications companies. Its cable television operations serve more than 3 million households
in the New York metropolitan area. The companys advanced telecommunications offerings include its
iO: Interactive Optimum digital television, Optimum Online high-speed Internet, Optimum Voice
digital voice-over-cable, and its Optimum Lightpath integrated business communications services.
Cablevisions Rainbow Media Holdings LLC operates several successful programming businesses,
including AMC, IFC, WE tv and other national and regional networks. In addition to its
telecommunications and programming businesses, Cablevision owns Madison Square Garden and its
sports teams, the New York Knicks, Rangers and Liberty. The company also operates New Yorks Radio
City Music Hall and Beacon Theatre, and owns and operates Clearview Cinemas.

This press release is not a solicitation of a proxy, an offer to purchase nor a solicitation of an
offer to sell shares of Cablevision, and it is not a substitute for the proxy statement and other
filings with the Securities and Exchange Commission (SEC) relating to this transaction.
Investors are urged to thoroughly review and consider those filings because they contain important
information, including information concerning the participants in the solicitation and their
interests in the transaction. Such documents are available free of charge at the SECs Web site
(www.sec.gov) and from Cablevision.

Safe Harbor Statement under the Private Securities Litigation and Reform Act of 1995:
This press release includes forward-looking statements within the meaning of the federal securities
laws that are subject to risks and uncertainties, including the inability to satisfy the conditions
to any proposed transaction, general economic conditions, and other factors that may be identified
in filings made with the SEC by Cablevision or the Dolan Family Group.